Tesco current account - direct debits

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flergalwit
flergalwit Posts: 71 Forumite
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in Budgeting & bank accounts
Sorry if this is a repeat but I cannot find the answer by searching the forum. I asked this in another thread but it didn't get an answer - so I thought I'd make a new thread.

One of the criteria for getting 3% interest on the Tesco current account(s) is to "pay at least three Direct Debits each statement month".

Does that mean 3 direct debits from separate sources? Or could it be just one or two direct debits that between them take at least 3 payments per month?

Of course I could find this out empirically but by that time I might have lost (at least) a month's interest, so I was wondering if anyone knew already...?

Thanks.
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  • mt99
    mt99 Posts: 472 Forumite
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    What did Tesco say when you asked them?
  • tenchy
    tenchy Posts: 486 Forumite
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    Could I ask a supplementary question:


    When applying do they require manual production of identification doc's, or do they generally just carry out online checks (I know there will always be exceptions)?
  • tenchy
    tenchy Posts: 486 Forumite
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    mt99 wrote: »
    What did Tesco say when you asked them?


    I assume he hasn't asked them. Why else would he come here for an answer - a perfectly reasonable thing to do, given this is an advice forum.
  • mt99
    mt99 Posts: 472 Forumite
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    I disagree it is perfectly possible that it asked them but got some conflicting advice
  • flergalwit
    flergalwit Posts: 71 Forumite
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    mt99 wrote: »
    What did Tesco say when you asked them?
    I haven't asked them. I would have if they had an online messaging system, like some other banks have, but they don't. If no-one here knows I might call them, as it would be good to have the answer on record, but that costs money, eating into that 3% interest payout, so I thought I'd check here first...
    tenchy wrote: »
    When applying do they require manual production of identification doc's, or do they generally just carry out online checks (I know there will always be exceptions)?
    They didn't ask me for any documents when opening either of my 2 current accounts. (On the other hand I already had a credit card with them, and I can't remember if I gave them any documents when I opened it years ago. Not sure if that'd make a difference.)
  • sheramber
    sheramber Posts: 19,109 Forumite
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    You can ask them on Facebook.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    flergalwit wrote: »
    ...I might call them, as it would be good to have the answer on record, but that costs money, eating into that 3% interest payout
    Grab a couple of their many freephone numbers listed on www.saynoto0870.com and then go find a phone box?
  • flergalwit
    flergalwit Posts: 71 Forumite
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    sheramber - thanks, but I don't use social media. So I did make the call. Couldn't find a freephone number so I settled for using a 0345 number.

    The answer seems to be that they need to be separate. The person who answered was not 100% convincing but that's what they said. Oh well....
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
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    Most banks require individual mandates to meet criteria.

    Whether one of your companies set up more than one direct debit mandate is up to them/their process. (some insurance policies do it if it's same company/different policy number etc)
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • flergalwit
    flergalwit Posts: 71 Forumite
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    Dobbibill wrote: »
    Most banks require individual mandates to meet criteria.

    Whether one of your companies set up more than one direct debit mandate is up to them/their process. (some insurance policies do it if it's same company/different policy number etc)
    I was hoping to use my two Post Office savings accounts to handle them. (One per Tesco account, each drawing £1 once a week and thus 4 DD payments per month per Tesco account.) Looks like that's not going to work though...
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